Mortgage Company Changed…Now What?
Did you recently receive a notice informing you that your mortgage company will be changing? Maybe you haven't yet, but it is likely that during the term of your mortgage…
Does Refinancing Really Make Sense? Calculate It!
Refinancing always sounds like a good deal when you can reduce your interest rates and monthly payment son your mortgage but does it always make sense to refinance your mortgage?…
Where the Heck Did FICO Come From?
Not too long ago, the credit world was much different than it is today. Credit bureaus operated in near secrecy, gathering information in ways that may surprise you. For instance, did you know that Retailer's credit (now Equifax) received information about you gathered by the Welcome Wagon hostess?
The Lender that Could – I Knew I Could
The mortgage business can be a confusing industry to understand. There are different types of loans, different types of lenders and different paths for loans after closing. All of these…
Don’t have a lot of money for down payment?
(All stories shared on Lending A Hand contain fictitious names with changes to insignificant details. The privacy and trust of our customers is our top priority.) I received a call…
The Bank of Mom and Dad
We received a couple of calls in the past few days for potential home buyers looking to get qualified for a mortgage and both of them had questions about how Mom and Dad could help them qualify. Here are their situations:
Mortgage Brokers vs Mortgage Bankers
Not all lenders are created equal. Knowing the difference between the different types of lenders and how those differences impact you could save you money and provide you with more…
Good Faith Estimate Explained
The Good Faith Estimate, also known as a GFE, shows the interest rate, term, loan amount, and all settlement costs on a particular loan. The Good Faith Estimate is divided…
Home Valuation Code of Conduct – Conventional Mortgages
Modifications to the way in which lenders and appraisers work together go into effect today, May 1, 2009. According to the Federal Housing Finance Agency (FHFA) the changes to the…
What is APR or Annual Percentage Rate?
One of the most common incorrectly explained and misunderstood topics within the mortgage business is the definition of APR. I will do my best to unravel the mystery and explain…